Model based on system dynamics for project portfolio management in industries

In organizations, one of the biggest challenges lies in strategic decision-making. In the case of Project Portfolio Management, companies have been incorporating classic tools to reduce uncertainty in this process. This document proposes a new model based on system dynamics, with a different approach to classic strategic project management models. Initially a conceptual model constructed using the root definition of the "Soft System Methodology", proposed by the causal relationships proposed by Peter Chekland and Peter Senge, is proposed. Subsequently, the flow model built on the basis of what is proposed by Jhon Sterman is presented. The model translates the interactions of strategic thinking, project portfolio management, project management and production management into a mathematical model that explains the forms of growth and decline in the real system. It was applied in the Colombian poultry sector in order to validate it. The model is a virtual learning environment that reduces uncertainty in strategic decision-making associated with project portfolios.